Cicely LaMothe’s Departure from the SEC
Cicely LaMothe, who has served as the Deputy Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (SEC) for 24 years, is stepping down from her role, marking the end of her notable career dedicated to various initiatives regarding cryptocurrency. LaMothe’s retirement was announced on December 29, shifting a focus that has increasingly welcomed digital asset oversight as she reflected on her public service journey.
“As I prepare to conclude my time with the SEC, I feel immense gratitude for the privilege of serving the American people. This journey has afforded me challenges and rewards beyond measure, thanks to the commitment of fellow staff members who pursue this vital mission daily,” she stated in her announcement.
Career Overview
A graduate of Hampton University with a degree in accounting, LaMothe commenced her tenure with the SEC in 2002, following six years in the private sector—most notably working as a financial reporting manager within a public company and a national firm, and holding a Certified Public Accountant designation. Throughout her extensive career at the agency, she held several important positions, including:
- Program Director of the Disclosure Review Program
- Associate Director of Disclosure Operations
- Temporarily Acting Director of the Division of Corporation Finance from December 2024 to October 2025
Contributions to Cryptocurrency Regulation
LaMothe has been instrumental in establishing the SEC’s pro-crypto initiatives, including plans to create an Office of Crypto Assets to manage the nuances of filing reviews related to digital currencies. In her final year, she prioritized clarifying existing regulations through significant interpretive guidance that included important staff statements concerning meme coins, which helped distinguish these types of assets in the current regulatory environment.
One notable guidance she led clarified that a meme coin does not inherently qualify as a security, enabling the launch of various ETFs linked to assets such as Dogecoin and Bonk.
Furthermore, LaMothe was pivotal in differentiating between centralized custodial and non-custodial staking, streamlining approval processes for different crypto exchange-traded products (ETPs) by the conclusion of 2025. In total, she contributed to seven staff statements designed to elucidate securities laws as they apply to various cryptocurrency-related matters, including stablecoin frameworks and disclosure requirements for cryptocurrency mining companies.
Shifts in the Crypto Policy Landscape
LaMothe’s exit comes amidst a wave of retirements of other crypto-supportive figures in government. Notably, Caroline Pham, who served as Acting Chair of the Commodity Futures Trading Commission (CFTC), is leaving to become the Chief Legal Officer at MoonPay, following her advocacy for multiple pro-crypto measures including leveraging spot crypto trading. Additionally, Rostin Behnam, the prior Chairman of the CFTC, stepped down earlier this year after pushing for augmented oversight over spot crypto markets.
Meanwhile, Senator Cynthia Lummis, a legislative champion for crypto in Congress, has confirmed she will not run for re-election next November, signaling further shifts within the crypto policy landscape.
